China says it will intensify communication and cooperation with the United States on macro economic policies as Beijing holds the two sides have a shared responsibility to safeguard the world economy.

Chinese President Hu Jintao told United States Treasury Secretary Henry Paulson during their meeting in the Chinese capital.
CRI reporter Liao Jibo has more.

Report:

U.S. Treasury Secretary Henry M. Paulson, special representative of U.S. President George W. Bush, is on his two-day China trip, for preparation for the next round of the bi-annual China-U.S. Strategic Economic Dialogue, or the SED, in June.

During a meeting with Paulson, Chinese President Hu Jintao spoke positively of the recent growth of China-U.S. economic and trade cooperation and bilateral relations. He noted the development of these ties served both nations' interests and promoted world peace and prosperity.

President Hu also hailed the bilateral Strategic Economic Dialogue as "a success".

"Till now, the three consecutive dialogues had already played an important role in promoting the two countries' bilateral economic ties. The SED has also strongly pushed the development of China-U.S. constructive and cooperative relationship."

He said China would continue to raise the level of bilateral economic and trade cooperation and make joint efforts with the U.S. to maintain the growth of the world economy and the stability of the international financial system.

For his part, Paulson called for closer US-Chinese cooperation on energy conservation.

"Our two countries share the challenge of achieving balanced economic growth along with energy security and environmental sustainability. It will take resourcefulness, creativity, determination and a long-term commitment to achieve the results we seek."

In his speech delivered at a government think tank, Paulson called on the governments and industries from both sides to play a bigger role in reducing greenhouse gas emissions and pollution, and do more to increase the use of environment-friendly energy resources.

Paulson also stressed the importance of the upcoming fourth round of the SED.

"Through the SED, we make progress on those long-term issues by defining our strategic objectives and laying a course of concrete actions. We solve immediate problems through cooperative engagement. We reduce misunderstanding through dialogue."

The SED was launched in 2006. It is a biannual economic strategic dialogue between Beijing and Washington, serving as a platform to discuss long-term, strategic and comprehensive issues in bilateral trade relations.

Liao Jibo, CRI news.